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The Toronto-Dominion Bank Message Board

  • waverlyhillbillies waverlyhillbillies Feb 12, 2013 6:10 AM Flag

    Capital City Bank (CCBG) Tallahassee

    Acquisition of CCBG by TD would "plug" a hole in their FL market; I can see Hancock as a suitor as well. CCBG is essentially family-controlled & has been under the weather (forced to eliminate dividend). Under pressure from Wells Fargo & Regions; have also lost their "home town" bank mantle to newer, smaller startups. Selling well under book value; with takeover premium a double would not no be unreasonable. THINLY TRADED! There are days when it barely trades; 50,000 shares is a pretty big day for them. Disclosure: I own shares in CCBG. Oh, and it's wound tight as a coiled spring.

    Sentiment: Strong Buy

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    • Hit a new high yesterday (only 4K shares traded!) Looks like a coiled spprriinngg. True, they only have 50 or so branches, but TD would be covering a good bit of territory in FL's Big Bend/Panhandle area. Acquisition would make sense; natural path of expansion. I'm sure TD would like to fly their flag in Destin.

 
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